Utility Industry Leaders Schlumberger and Itron Sign License Agreement and MOU for Automatic Meter Reading Solutions in North America

Business Wire, Sept 14, 1998

WASHINGTON--(BUSINESS WIRE)--Sept. 14, 1998--Schlumberger Resource Management Services, Inc.,(NYSE:SLB), the world's largest provider of metering systems and solutions, and Itron, Inc. (NASDAQ:ITRI), a leading global provider of automatic meter reading (AMR) services and equipment to the utility industry, announced that they have signed a license agreement that allows Schlumberger to read Itron ERT technology in the water, gas and electric utility marketplace with Schlumberger mobile and handheld meter reading systems.

Schlumberger and Itron have also signed a Memorandum of Understanding (MOU) that defines how the companies will work together on mobile and handheld system solutions for the utility marketplace. In addition the two companies have finalized a Business Associate agreement that allows Schlumberger to resell Itron equipment in the utility marketplace.

"Our goal is to provide our clients with the most cost effective system and service solution in this new era of competition in a deregulated marketplace. This agreement provides us with another viable communications option for Schlumberger customers and allows Schlumberger a platform by which to offer extremely competitive reading services," said Brad Kitterman, president, Schlumberger Resource Management Services, Inc., North America.

"When it comes to choosing the best AMR solutions from the top companies, utilities no longer need to face an either-or choice," said Johnny Humphreys, Itron chairman, CEO and president. "These agreements bring together the technologies and experience of two proven industry leaders in the water, gas and electricity markets to provide our customers with the best possible system solutions."

According to Mario Galletto, president Global Solutions Group, Schlumberger Resource Management Selopments for specific products for the Europeanhip Cooperative in Reynolds, Georgia. Schlumbertechnology.

Itron, a leading provider to than 40 countries around the world. The Company i employs approximately 1,200 people worldwide. ple in over 30 countries in a diverse array of e was $10.65 billion.

For more information 2 email: kelly@norcroi@itron.com

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